revenue from sales is P98,760; sales return is P35,500; cost of goods sold is P8,490; salaries cost P 14,600; rent is P8,000; light and water expenses are P7,550 and miscellaneous expenses are P9,520.Generate an income statement and find: a. Gross Profit b. Net Profit or Loss

revenue from sales is P98,760; sales return is P35,500; cost of goods sold is P8,490; salaries cost P 14,600; rent is P8,000; light and water expenses are P7,550 and miscellaneous expenses are P9,520.Generate an income statement and find: a. Gross Profit b. Net Profit or Loss

Name: Problem #2: On June 30, 2020, PSATrading Co. has the following inform
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Description: Problem #2: On June 30, 2020, PSATrading Co. has the following information:revenue from sales is P98,760; sales returnis P35,500; cost of goods sold is P8,490;salaries cost P 14,600; rent is P8,000; lightand water expenses are P7,550 andmiscellaneou

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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